Crystal Market Research released a detailed assessment of trends in Global Solar Pumps market. The research report includes diverse topics like total market size, key market drivers, challenges, growth opportunities, key players etc. We have also covered key market updates, the impact of regulations and technological updates.

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Industry Trend Analysis
The global Solar Pumps Market has encountered significant development in the recent years and is foreseen to witness tremendous growth in the following years. Rising agricultural activities along with water pumping for irrigation derived from renewable energy is anticipated to fuel the global solar pumps market during the forecast years. Nations such as India, China, Bangladesh, Namibia, Pakistan, Nigeria, Morocco, and Kenya have set objectives to trim down fossil fuel imports as well as gain fiscally from it. These areas have plentiful solar energy supply with an immense renewable energy exploration potential. This factor is anticipated to boost global solar pump industry growth during the forecast years. Solar pumps are mainly utilized for drinking water and irrigation purposes. They are utilized in rural and remote areas where off-grid energy in the electricity form is not offered. Utilization of solar energy to propel pumps cuts down the working cost, which is mostly consumed in the diesel form. Strict government regulations to trim down carbon footprints into the environment are predicted to boost the growth of the solar pumps market during the next few years. Solar energy utilized for water pumps does not produce any carbon footprints into the environment and renders a clean energy source. Though, elevated initial cost relative to traditional diesel pumps is anticipated to remain a major challenge for industry participants.

Competitive Outlook and Trend Analysis
Global solar pumps industry is ruled by major international organizations which have an existence over the value chain. The major market players in the global solar pumps market are Lorentz, SunEdison, Grundfos, USL, Bright Solar, CRI Pumps, TATA Power Solar Systems Ltd., and Shakti Pumps among others.

Product Outlook and Trend Analysis
In 2014, DC suction came out as the major product for solar pumps and reported for around 80% of overall solar pumps market. Rising drip irrigation activities, especially in developing countries of the Middle East & Africa and Asia Pacific, is anticipated to propel solar powered DC suction pumps during the forecast years. AC submersible pumps are anticipated to experience the major growth rate throughout the projected period. Rising demand for advanced efficiency solar pumps especially in emerging countries like Bangladesh and India is projected to fuel the demand for AC submersible pumps during the forecast years. AC submersible pumps are specifically designed to impel groundwater from deeper boreholes or wells where DC suction pumps cannot be employed.

Application Outlook and Trend Analysis
In 2014, agriculture segment was the ruled application section of solar pumps and reported for 60% of the global solar pumps industry. The global rise in agricultural activities along with water needed for irrigation is projected to fuel solar pumps industry for this application segment. Government grants to solar pump manufacturers and farmers especially in developing countries of Asia Pacific region are anticipated to fuel the growth of the global solar pump market during the next few years for agricultural application. Continuous and clean water supply is essential to a remote place of diverse regions where the supply of electricity is an issue and using diesel pumps turns out to be costly. This factor is projected to boost the global solar pumps market during the forecast period since these places have immense prospective to explore renewable energy in the solar form.

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Regional Outlook and Trend Analysis
In 2013, Asia Pacific region came out as the leading regional solar pump market and reported for around 30% of overall market volume. Rising government grants and a decline in import of fossil fuel for farming activities is anticipated to boost solar pump market in the region during the forecast years. Growing agricultural activities along with increasing government grants in the financial incentives form are estimated to fuel the growth of the solar pumps market across Asia Pacific region. Economies in this region like India, China, Pakistan, and Bangladesh are key agricultural regions with plentiful solar energy availability. Africa &The Middle East are also experiencing considerable growth during the forecast years. The modification in the trend towards abbreviating dependency on fossil fuels importing in the butane and diesel form for their main requirement for energy to produce electricity for drinking water and agriculture.

The global solar pumps market is segmented as follows –
By Product
DC Surface Suction
AC Submersible
DC Submersible
AC Floating

By Application
Agriculture
Drinking Water

By Region
North America
U.S
Canada
Mexico

Europe
Germany
France
UK
Italy
Spain
Rest of Europe

Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia Pacific

Rest of the World
Brazil
South Africa
Saudi Arabia
United Arab Emirates
Others

Research Methodology
We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.

Data Mining
Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.

Market Classification
Solar Pumps Market, By Product, Estimates and Forecast, 2014-2023 ($Million)
DC Surface Suction
AC Submersible
DC Submersible
AC Floating

Solar Pumps Market, By Application, Estimates and Forecast, 2014-2023 ($Million)
Agriculture
Drinking Water

Table of Contents:
1.Introduction
2.Executive Summary
3.Market Overview
4.Solar Pumps Market, By Product
5.Solar Pumps Market, By Application
6.Solar Pumps Market, By Region
7.Company Profiles
….

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